EURCAD is approaching its resistance at 1.4920 (61.8% Fibonacci extension x2, 23.6% Fibonacci retracement, horizontal overlap resistance) where it could reverse down to its support at 1.4839 (50% Fibonacci retracement, horizontal swing low support).
Stochastic (55, 5, 3) is approaching its resistance at 97% where a corresponding reversal could occur.
AUDJPY is approaching its resistance at 80.64 (61.8% Fibonacci extension, 23.6% Fibonacci retracement, horizontal overlap resistance) where it could reverse down to its support at 80.19 (61.8% Fibonacci retracement, horizontal overlap support).
RSI (89, 5, 3) has broken out of its ascending support line.
USDJPY bounced nicely off its support at 113.56(61.8% Fibonacci extension, 23.6% & 50% Fibonacci retracement, horizontal swing low support) where it could potentially bounce to its resistance at 114.04 (100% Fibonacci extension, 50% Fibonacci retracement, horizontal swing high resistance).
Stochastic (55, 5, 3) is bounced off its support at 11.2% where a...
Weekly Gain/Loss: +0.24%
Weekly Close: 1.2938
Weekly perspective:
Having seen the market respond to the trend line resistance-turned support (extended from the high 1.4689) back in late August, and also act as firm resistance from its peak on a number of occasions in the past, it should not come as much of a surprise to see the line hold firm last week. The next...
XAUUSD is approaching its support at 1194 (61.8% Fibonacci extension, 61.8%, 50% Fibonacci retracement, horizontal overlap support) where it could potentially bounce to its resistance at 1201 (50% Fibonacci retracement, horizontal overlap resistance).
Stochastic (89, 5, 3) is approaching its support at 4.5% where a corresponding bounce could occur.
USDCAD is approaching its resistance at 1.2977(100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap resistance) where it could reverse down to its support at 1.2889 (50% Fibonacci retracement, horizontal overlap support).
Stochastic (55, 5, 3) is approaching its resistance at 97% where a corresponding reversal could occur.
GBPUSD is approaching its resistance at 1.3068 (100% Fibonacci extension, 50%, 38.2% Fibonacci retracement, horizontal overlap resistance) where it could reverse down to its support at 1.2982 (61.8% Fibonacci retracement, horizontal overlap support).
Stochastic (55, 5, 3) is approaching its resistance at 97% where a corresponding reversal could occur.
AUDJPY is approaching its support at 80.62 (100% & 61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal overlap support) where it could potentially bounce to its resistance at 81.73 (61.8% Fibonacci retracement, horizontal swing high resistance).
Stochastic (34, 5, 3) is approaching its support at 4.8% where a corresponding bounce could occur.
EURAUD reversed off its resistance at 1.6168(100% Fibonacci extension, 76.4% & 50% Fibonacci retracement, horizontal overlap resistance) where it could drop further to its support at 1.6092(50% Fibonacci retracement, horizontal pullback support).
Stochastic (89, 5, 3) reversed off its resistance at 95% where a corresponding drop could occur.
NZDJPY is approaching its support at 74.13 (100% Fibonacci extension x2, 38.2% Fibonacci retracement, horizontal overlap support) where it could potentially bounce to its resistance at 74.98 (61.8% Fibonacci retracement, horizontal pullback resistance).
Stochastic (55, 5, 3) is approaching its support at 2.4% where a corresponding bounce could occur.
USDCAD is approaching its resistance at 1.2891(61.8% Fibonacci extension, 38.2% & 23.6% Fibonacci retracement, horizontal overlap resistance) where it is expected to reverse down to its support at 1.2791 (horizontal swing low support).
Stochastic (55, 5, 3) is approaching its resistance at 96% where a corresponding reversal is expected.
NZDUSD is approaching its support at 0.6545(100% & 61.8% Fibonacci extension, 78.6% Fibonacci retracement, horizontal overlap support) where it could potentially bounce to its resistance at 0.6603 (38.2% Fibonacci retracement, horizontal swing high resistance).
Stochastic (89, 5, 3) is approaching its support at 3.7% where a corresponding bounce could occur.
GBPJPY is approaching its support at 147.06 (100% Fibonacci extension x2, 38.2% Fibonacci retracement, horizontal overlap support) where it could potentially bounce to its resistance at 148.28 (61.8% Fibonacci retracement, horizontal pullback resistance).
Stochastic (89, 5, 3) is approaching its support at 4.8% where a corresponding bounce could occur.
CHFJPY is approaching its support at 115.29 (100% Fibonacci extension, 38.2% & 61.8% Fibonacci retracement, horizontal overlap support) where it could potentially bounce to its resistance at 116.28 (38.2% Fibonacci retracement, horizontal swing high resistance).
Stochastic (55, 5, 3) is approaching its support at 7.8% where a corresponding bounce could occur.
DXY approaching its resistance at 95.62 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap resistance) where it could potentially reverse down to its support at 94.74 (50% Fiboancci retracement).
Stochastic (55, 5, 3) is approaching its resistance at 97% where a corresponding reversal could occur.
EURUSD is approaching its support at 1.1518(61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap support) where it could potentially bounce to its resistance at 1.1661 (50% Fibonacci retracement, horizontal overlap resistance).
Stochastic (55, 5, 3) is approaching its support at 2.8% where a corresponding bounce could occur.
CADCHF is approaching its resistance at 0.7715 (61.8% Fibonacci extension, 76.4% Fibonacci retracement, horizontal overlap resistance) where it could reverse down to its support at 0.7629(23.6% Fibonacci retracement, horizontal overlap support).
Stochastic (55, 5, 3) is approaching its resistance at 99% where a corresponding reversal could occur.
USD/JPY bulls kicked off October on a high note, reaching fresh 2018 highs of 114.06. Following dips in Japan’s Q3 Tankan survey and September’s manufacturing PMI, the pair eventually shook hands with its 114 handle on the H4 timeframe.
As is evident from the H4, price remains in a consolidative state just south of 114 at the moment, with the H4 RSI exploring...
